Unclaimed Amount: There is no claimant of thousands of crores of rupees, it is just lying in the banks, is it not yours? – no claimant of 35000 crore rupees, it is just lying in the banks, is it not yours?
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Amount handed over to Reserve Bank
The Union Finance Ministry recently informed the Parliament that public sector banks handed over Rs 35,012 crore to the Reserve Bank in February itself. There was no claimant for this amount. Union Minister of State for Finance Bhagwat Karad gave this information in a written reply in the Lok Sabha. He told that the highest unclaimed amount is in State Bank. SBI had Rs 8,086 crore as unclaimed amount. While Punjab National Bank (PNB) had Rs 5,340 crore and Canara Bank had Rs 4,558 crore.
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What is unclaimed amount
According to the rules of the Reserve Bank, when the amount deposited in the savings or current account remains unclaimed for 10 years, it becomes an unclaimed amount. Similarly, such term or fixed deposits, whose claimants do not come forward till 10 years from the date of maturity, are considered as ‘Unclaimed Deposit’. This money is transferred to the ‘Depositor Education and Awareness Fund’ created by the RBI.
If you keep money in the bank then keep taking it Search News
If you also deposit money in the bank, then keep doing transactions in the account. If you do not transact in it for a certain period, then your account also becomes inactive. When its search is not reported for a long time, then it becomes unclaimed.
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